Nonprofit Newswire | Too Slow CDC Loses Money and Role

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May 5, 2010; Source: Sun Sentinel | I preface this by speculating that there is probably much more to this story than reported here by the Sun Sentinel, but the paper reports that a Ft. Lauderdale CDC has lost funding to buy, renovate and resell foreclosed homes because it was moving much more slowly than the other two (for profit) developers working on the effort. The city had received $3.7 million from the federal government for this purpose last year and when the city commissioners went to check on progress two weeks ago they found that the CDC had not even started to expend any of the dollars while one of the other developers had already spent all of their money. While we do not know the specifics of this situation, the message should be clear to all of us that in this particular moment we have to be able to mobilize quickly because folk all up and down the accountability line will be seeking to show results and prove their worth as grant recipients.—Ruth McCambridge